Mortgages and moving long distance

Whoknowskt89

Hi all!
Wondering if any of you could assist.

I currently live in Essex with a mortgage on a 1 bed flat, currently worth around £110k with only around £68k on the mortgage.
I'm currently in a 5 year fix, I have 3 years left.
My office will be closing in around 4 years and we'll be moving to London but there are options as my company has offices in the Midlands.

I'm looking at moving to the Midlands as for the same/little more money I can get a house with 2 to 3 bedrooms and off road parking. With nothing exactly keeping me down south, it's something I'm really looking into.

What is the best way around doing all this? I'm single/live alone with fish tanks and cats.

Am I better off selling my flat and renting a place to start with? Essentially meaning I'll have more money in the bank to buy without a chain my end?
Or trying to sell and buy a place long distance and then trying to move everything in one day?

I'm not looking at moving for a little while yet but any advice would be appreciated!

Thank you

Thrugelmir

Will your Company not assist you with relocating? Normally they do if they wish key personnel to transfer.

Whoknowskt89

They'll assist in travel costs to the new London office for a few years but ultimately I don't want to work in London for the rest of my life.
Plus here, a 2 bed house with garden and no parking is around £230k and alone, I'll never afford it.

I'll have no trouble transferring to the Midlands office but it's the, do I sell and move into rented and give myself time to move out of my flat/find the perfect house or try to sell and buy simultaneously where I won't have much knowledge of the area/time to do house hunting.

hcb42

Long term planning here - anything could happen, but I would say selling up at the right time, renting for six months while you move location and then buying when you have found out what you like, is a good way to go

Whoknowskt89

I do like to long term plan!
I have what should be an easy to sell flat - right by town, large kitchen and bathroom and flats here seem to sell or rent out well.
Once I've finished my loan, which I'm currently overpaying fee free, I'm planning on saving a lot of money to go towards fees, moving vans etc. Though I must say 3 years to me doesn't feel that long!

amnblog

If you don't know Birmingham you might want to rent first to make sure you feel comfortable in the area you choose (possibly a problem for pets though).